Policosanol Market By Source (Sugarcane, Wheat Germ, Besswax, Others), By Application (Dietary supplements, Pharmaceutical drugs, Personal care and Cosmetics, Animal Feed): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global policosanol market was valued at $301.0 million in 2022, and is projected to reach $586.5 million by 2032, growing at a CAGR of 6.9% from 2023 to 2032.
Policosanol is a natural supplement derived from the wax of sugarcane, beeswax, or wheat germ. It is composed of a mixture of long-chain alcohols, with octacosanol being the primary component. Policosanol gained popularity as a dietary supplement due to its potential health benefits, particularly in relation to cardiovascular health.
There is a rise in cardiovascular concerns due to a combination of lifestyle factors, demographic changes, and increased awareness of cardiovascular health has driven the policosanol market. Furthermore, heart disease, high cholesterol levels, and related cardiovascular issues remain significant health concerns globally. For instance, according to an article published by World Health Organizatin in June 2021, approximately 17.9 million people died from CVDs in 2019, representing 32% of all global deaths of these deaths, 85% were due to heart attack and stroke. Policosanol is often marketed as a natural alternative to traditional cholesterol-lowering medications, appealing to individuals seeking natural remedies or those experiencing side effects from pharmaceutical drugs. This factor drives the overall policosanol market growth during the forecast period.
Policosanol competes with various established and widely prescribed medications for managing cholesterol and cardiovascular health. Many pharmaceutical drugs have been extensively researched, clinically tested, and proven effective. As a result, healthcare professionals and individuals prefer using these established treatments rather than opting for a less researched natural supplement like policosanol. Furthermore, regulation of dietary supplements, including policosanol, vary across countries. In some regions, there is a lack of clear guidelines or oversight, making it difficult to ensure the quality, purity, and safety of the products available in the market. These factors restrain the growth of policosanol in the market.
Continued investment in research and development leads to new findings and advancements related to policosanol has put more emphasis on the researcher. For instance, according to data published by the National Center for Science and Engineering Statistics in January 2023, for 2021, business R&D and total R&D performance are estimated to increase by $69.2 and $74.9 billion, respectively. This research further establishes the efficacy, safety, and potential applications of policosanol, opening up opportunities for new formulations, delivery methods, and targeted uses for policosanol. This factor is expected to boost the demand for policosanol market; thus, offering new avenues for the market.
The policosanol market is segmented on the basis of source, application, and region. On the basis of source, it is categorized into sugarcane, wheat germ, beeswax, and others. On the basis of application, it is segregated dietary supplements, pharmaceutical drug, personal care and cosmetics, and animal feed. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the policosanol market analysis from 2022 to 2032 to identify the prevailing policosanol market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the policosanol market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global policosanol market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy SourceSugarcane
Wheat Germ
Besswax
Others
By ApplicationDietary supplements
Pharmaceutical drugs
Personal care and Cosmetics
Animal Feed
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Ambe Phytoextracts Pvt. Ltd.
Bioriginal Food & Science Corp
BOC Sciences
Botanic Healthcare
HUZHOU SHENGTAO BIOTECH LLC
MANUS AKTTEVA BIOPHARMA LLP
Sabinsa
SHREEJI PHARMA INTERNATIONAL
Sunpure Extracts Pvt Ltd.
ZXCHEM Group
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